Aerovate Therapeutics (NASDAQ:AVTE) Now Covered by Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Aerovate Therapeutics (NASDAQ:AVTE) in a research report report published on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $65.00 target price on the stock.

Separately, Wells Fargo & Company assumed coverage on shares of Aerovate Therapeutics in a research note on Friday, December 8th. They set an equal weight rating and a $35.00 price target on the stock.

Aerovate Therapeutics Stock Up 3.8 %

AVTE opened at $29.57 on Monday. The stock has a market cap of $823.82 million, a price-to-earnings ratio of -10.27 and a beta of 1.18. Aerovate Therapeutics has a twelve month low of $9.41 and a twelve month high of $29.99. The company’s 50-day moving average price is $22.19 and its two-hundred day moving average price is $17.71.

Insiders Place Their Bets

In other news, insider Benjamin T. Dake sold 11,068 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $27.97, for a total value of $309,571.96. Following the transaction, the insider now owns 1,291 shares of the company’s stock, valued at approximately $36,109.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Ralph Niven sold 4,600 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $19.16, for a total transaction of $88,136.00. Following the transaction, the insider now owns 1,609 shares of the company’s stock, valued at approximately $30,828.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Benjamin T. Dake sold 11,068 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $27.97, for a total transaction of $309,571.96. Following the transaction, the insider now directly owns 1,291 shares in the company, valued at approximately $36,109.27. The disclosure for this sale can be found here. Insiders have sold 42,563 shares of company stock worth $1,010,853 in the last three months. 19.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aerovate Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. UBS Group AG bought a new position in shares of Aerovate Therapeutics during the 3rd quarter valued at $26,000. Tower Research Capital LLC TRC grew its holdings in shares of Aerovate Therapeutics by 136.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,702 shares of the company’s stock valued at $55,000 after purchasing an additional 1,558 shares during the last quarter. Citigroup Inc. grew its holdings in Aerovate Therapeutics by 1,351.5% in the 2nd quarter. Citigroup Inc. now owns 3,324 shares of the company’s stock worth $57,000 after acquiring an additional 3,095 shares during the last quarter. BNP Paribas Arbitrage SNC bought a new stake in Aerovate Therapeutics in the 3rd quarter worth $66,000. Finally, Wells Fargo & Company MN grew its holdings in Aerovate Therapeutics by 156.7% in the 2nd quarter. Wells Fargo & Company MN now owns 4,200 shares of the company’s stock worth $72,000 after acquiring an additional 2,564 shares during the last quarter.

About Aerovate Therapeutics

Aerovate Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development of drugs that enhance the lives of patients with rare cardiopulmonary diseases in the United States. It focuses on advancing AV-101, a dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, which is in Phase 2b/Phase 3 trial.